Swiss National Bank raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,134,968 shares of the iPhone maker’s stock after purchasing an additional 2,467,900 shares during the quarter. Apple accounts for 6.3% of Swiss National Bank’s portfolio, making the stock its 2nd largest position. Swiss National Bank’s holdings in Apple were worth $10,947,224,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First National Bank of Hutchinson grew its position in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its holdings in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC boosted its stake in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on AAPL shares. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, June 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday. Robert W. Baird lifted their price target on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Bank of America reissued a “buy” rating and issued a $380.00 price objective on shares of Apple in a report on Thursday, June 18th. Finally, Citigroup restated a “buy” rating and set a $365.00 price objective (up from $315.00) on shares of Apple in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.60.
Insider Transactions at Apple
In other Apple news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.
Apple Stock Down 1.8%
AAPL stock opened at $303.42 on Tuesday. The firm has a market cap of $4.46 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.65 and a beta of 1.09. Apple Inc. has a 1-year low of $201.68 and a 1-year high of $344.57. The firm has a fifty day moving average price of $309.40 and a two-hundred day moving average price of $281.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the firm posted $1.57 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts predict that Apple Inc. will post 8.8 EPS for the current year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 12.39%.
More Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
- Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
- Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices
Apple Profile
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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